Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) announces that certain directors have sold an aggregate of 2,760,233 common shares of Doubleview on December 20, 2012 from their personal holdings through the facilities of the TSX Venture Exchange. The directors will use all of the net proceeds from the sale of these shares to purchase units under Doubleview’s non-brokered private placement financing announced on December 19, 2012.
As a result of the proposed purchase of units by these directors, Doubleview anticipates that insiders may subscribe for greater than 25% of the private placement. The issuance of shares to insiders pursuant to the private placement is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Doubleview intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of Doubleview’s market capitalization
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to Doubleview’s ability to complete the proposed private placement financing, implement its drill program on the Hat Property, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
